Technical Outlook and Chart Setups:
Structurally there is no change since last three trading sessions. Resistance begins from 1.5150/1.5200 levels and extends till 1.5400. Intermediary support is at 1.4950, followed by 1.4800 level. It is recommended to remain short and sell further intraday rallies as close to 1.5100. Coming below 1.4950 shall accelerate further move downside towards 1.4800 and lower. Looking lower for now.
Trading Recommendations:
Remain short. Stop at 1.5150. Target 1.4600 and 1.4500.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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